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Sustainability and Corporate Mechanisms in Asia

出版	Cambridge University Press, 2020-04-02
主題	Law / GeneralLaw / Administrative Law & Regulatory PracticeLaw / Commercial / GeneralLaw / Corporate
ISBN	110849451X9781108494519
URL	http://books.google.com.hk/books?id=9HzUDwAAQBAJ&hl=&source=gbs_api
EBook	SAMPLE

註釋"This is the first book to provide a comparative and critical analysis of why and how corporate governance and corporate law have been or can be used to promote and protect sustainability in the four common law jurisdictions in Asia, i.e. Singapore, Hong Kong, India and Malaysia. Based on theoretical, doctrinal and empirical research, I critically evaluate the rationales for, and effectiveness of, six corporate mechanisms, namely (1) sustainability reporting; (2) gender diversity on board of directors; (3) constituency directors; (4) stewardship codes; (5) directors' duty to act in the best interests of the company; and (6) liability on companies, shareholders and directors. These six corporate mechanisms provide an analytic framework for understanding the role of corporate governance and corporate law in advancing (or thwarting) sustainability in jurisdictions other than those discussed in this book. 21 These six mechanisms will be evaluated in light of the distinctive contexts in the four common law Asian jurisdictions, specifically their ownership structures and institutional environment. This is because the majority of the listed companies there are dominated by controlling shareholders, particularly the government1 in state-owned enterprises (SOEs), which wield significant and substantial power.2 The pursuit of socioeconomic agendas and social objectives by the government through SOEs has facilitated sustainability, and the government plays an important role in advancing this goal. However, the government as the controlling shareholder of the SOEs poses two key problems, namely, conflicts of interest between the government as the controlling shareholder and as the corporate regulator, as well as political interference and extractions of benefits of control by the government. These problems may affect the corporate mechanisms for promoting sustainability. In short, a central challenge is whether and if so how the corporate mechanisms should be reconceptualised to promote sustainability in an environment that is characterised by controlling shareholders, governmental interference or state ownership of companies"--